Sun [New]
Crypto Overview
Overview
Sun [New] is a governance token for the SUN.io platform, which is a decentralized finance (DeFi) ecosystem built on the TRON blockchain. The platform was launched in September 2020 and rebranded in 2021.
Intended Utility
The SUN token is designed to serve as a governance token for the SUN.io platform, allowing holders to participate in decision-making processes regarding platform development and parameter adjustments. It also functions as a utility token within the ecosystem for various DeFi operations.
Actual Usage and Adoption
The primary use of SUN tokens currently aligns with its intended purpose as a governance token. Users can stake SUN tokens to participate in platform governance and earn rewards through the platform's various DeFi protocols.
Token Distribution and Founder Analysis
The token distribution appears to be relatively decentralized, with no single entity holding a concerning concentration of tokens. The project was launched through what was termed a 'fair mining' process, where tokens were distributed to users who participated in mining activities.
Technology and Revenue Model
The platform incorporates various DeFi protocols including liquidity provision, token swaps, and yield farming. Some of these features, particularly those involving lending and interest-bearing activities, raise concerns from an Islamic finance perspective.
Crypto Impact
To assign a comfort level investing in Sun [New] from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sun [New].
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.